Unit of competency Outline
Date retreived
22/07/2026 7:50 PM AWST
22/07/2026 7:50 PM AWST
Whilst all efforts are made to provide accurate and timely information from the relevant source/documentation, please be aware that the information supplied may not be the most current version. The accuracy of the detail has not been confirmed by the Department and therefore should not be relied upon without first confirming the contents.
Identify and develop complex broking options for client
Identify and develop complex broking options for client
Unit of competency
National Code
FNSFMB502A
FNSFMB502A
State Code
D4106
D4106
TGA Status
Replaced
Replaced
DTWD Status
Replaced
Replaced
State Implementation and Classification
Approved Date
29/07/2014
Field of Education
080101 - Accounting
Original Release Date
29/07/2014
Nominal Hours
60
Description
This unit describes the performance outcomes, skills and knowledge required to establish complex or special financial needs for a client, and consider complex issues such as economic and legislative developments and requirements to develop complex broking strategies and solutions for a client.This unit may apply to job roles subject to licensing, legislative, regulatory or certification requirements so Commonwealth, State or Territory requirements should be confirmed with the relevant body.
Notes
Elements and Performance Criteria
1. Identify complex broking needs of client
- 1.1. Special or complex features of a client's situation and objectives are discussed, reviewed and clarified
- 1.2. Risk issues and tolerance are explored and discussed comprehensively and ethically with the client, including unusual risks or requirements, and interdependencies and implications
- 1.3. Risks to the client or organisation are assessed for their impact according to company policy, guidelines and relevant legislation and further questioning and information gathering is engaged as required
2. Research and consider complex broking solutions based on client needs
- 2.1. Current client situation is analysed to determine opportunities and constraints
- 2.2. Research into loan structures or options is conducted including those which are new or non-standard, if required
- 2.3. Complex financial issues are considered in terms of economic, legislation, taxation, legal, insurance and other implications
- 2.4. Possible loan structures or options, fees and charges are analysed, modelled, prioritised and measured against risk and inappropriate options are rejected
- 2.5. Preliminary options are checked to ensure compliance with relevant Acts, legislation, regulatory and ethical guidelines and are assessed for their ability to successfully achieve the client objectives
3. Select and gather appropriate options and information for client review
- 3.1. Broking options for review with client are selected and explanatory material developed or obtained
- 3.2. If appropriate, consequences and other issues relating to the broking strategy are considered including referrals to accountant, financial adviser or lawyer where required
- 3.3. Recommendations on risk management strategies are developed and incorporated into materials for the client and description of anticipated fees and charges included
- 3.4. Information on complaints resolution procedures (internal and external) is included in the client information
- 3.5. Broking recommendations and loan structures that will be presented to client are documented according to organisation guidelines and procedures
RANGE STATEMENT
The range statement relates to the unit of competency as a whole. It allows for different work environments and situations that may affect performance. Bold italicised wording, if used in the performance criteria, is detailed below. Essential operating conditions that may be present with training and assessment (depending on the work situation, needs of the candidate, accessibility of the item, and local industry and regional contexts) may also be included.
Special or complex features may include:
chattel
commercial real estate
flexibility
international purchases
liquidity
products available to the adviser
volatility of expected income or capital growth.
Risk issues may include:
asset allocation and investment spread
borrowing risk and gearing
economic
institutional risk
market and sector risks:
economic cycle
fixed interest
property
stock market
risk factors and return expectations of the client
specific product risk
volatility of income and capital.
Legislation, regulatory and ethical guidelines may include:
Consumer Affairs Act
Consumer Credit Code
contract law
Corporations Act
disclosure of any conflicts of interest
full disclosure of remuneration and fees and any other matter that may influence broker recommendations
guarantees of confidentiality
industry codes of conduct and practice
Insurance Act
integrity checks
Life Act
preparation in utmost good faith
Privacy Act
social security regulations
State and Territory legislation
Taxation Acts
Trade Practices Act
Trust law.
Broking options may include but are not limited to:
direct investments
insurance products
loan products
sources of funding
types of finance.
The range statement relates to the unit of competency as a whole. It allows for different work environments and situations that may affect performance. Bold italicised wording, if used in the performance criteria, is detailed below. Essential operating conditions that may be present with training and assessment (depending on the work situation, needs of the candidate, accessibility of the item, and local industry and regional contexts) may also be included.
Special or complex features may include:
chattel
commercial real estate
flexibility
international purchases
liquidity
products available to the adviser
volatility of expected income or capital growth.
Risk issues may include:
asset allocation and investment spread
borrowing risk and gearing
economic
institutional risk
market and sector risks:
economic cycle
fixed interest
property
stock market
risk factors and return expectations of the client
specific product risk
volatility of income and capital.
Legislation, regulatory and ethical guidelines may include:
Consumer Affairs Act
Consumer Credit Code
contract law
Corporations Act
disclosure of any conflicts of interest
full disclosure of remuneration and fees and any other matter that may influence broker recommendations
guarantees of confidentiality
industry codes of conduct and practice
Insurance Act
integrity checks
Life Act
preparation in utmost good faith
Privacy Act
social security regulations
State and Territory legislation
Taxation Acts
Trade Practices Act
Trust law.
Broking options may include but are not limited to:
direct investments
insurance products
loan products
sources of funding
types of finance.
EVIDENCE GUIDE
The Evidence Guide provides advice on assessment and must be read in conjunction with the performance criteria, required skills and knowledge, range statement and the Assessment Guidelines for the Training Package.
Overview of assessment
Critical aspects for assessment and evidence required to demonstrate competency in this unit
Evidence of the ability to:
develop detailed broking options designed to maximise the client's outcomes and reach client objectives which incorporate elements from research
develop broking options and plans which address complex needs and issues and identify and describe key assumptions on which the plan is based
provide detailed analysis of research strategies and findings
test and make appropriate checks on a proposed plan for its integrity and compliance
assess impacts of taxation, social security, economic and other government policies on client investment and financial requirements.
Context of and specific resources for assessment
Assessment must ensure:
competency is demonstrated in the context of the financial services work environment and conditions specified in the range statement either in a relevant workplace or a closely simulated work environment
access to and the use of a range of common office equipment, technology, software and consumables
access to economic and financial services product information
access to specialist software and data
Method of assessment
A range of assessment methods should be used to assess practical skills and knowledge. The following examples, in combination, are appropriate for this unit:
evaluating an integrated activity which combines the elements of competency for the unit or a cluster of related units of competency
verbal or written questioning on underpinning knowledge and skills
setting and reviewing workplace projects and business simulations or scenarios
evaluating samples of work
accessing and validating third party reports
Guidance information for assessment
The Evidence Guide provides advice on assessment and must be read in conjunction with the performance criteria, required skills and knowledge, range statement and the Assessment Guidelines for the Training Package.
Overview of assessment
Critical aspects for assessment and evidence required to demonstrate competency in this unit
Evidence of the ability to:
develop detailed broking options designed to maximise the client's outcomes and reach client objectives which incorporate elements from research
develop broking options and plans which address complex needs and issues and identify and describe key assumptions on which the plan is based
provide detailed analysis of research strategies and findings
test and make appropriate checks on a proposed plan for its integrity and compliance
assess impacts of taxation, social security, economic and other government policies on client investment and financial requirements.
Context of and specific resources for assessment
Assessment must ensure:
competency is demonstrated in the context of the financial services work environment and conditions specified in the range statement either in a relevant workplace or a closely simulated work environment
access to and the use of a range of common office equipment, technology, software and consumables
access to economic and financial services product information
access to specialist software and data
Method of assessment
A range of assessment methods should be used to assess practical skills and knowledge. The following examples, in combination, are appropriate for this unit:
evaluating an integrated activity which combines the elements of competency for the unit or a cluster of related units of competency
verbal or written questioning on underpinning knowledge and skills
setting and reviewing workplace projects and business simulations or scenarios
evaluating samples of work
accessing and validating third party reports
Guidance information for assessment
Replaces
| State Code | National Code | Title | Type |
|---|---|---|---|
| C9669 | FNSFBRK502B | Identify and develop complex broking options for client | Unit of competency |
Replaced By
| State Code | National Code | Title | Type |
|---|---|---|---|
| AUR07 | FNSFMB502 | Identify and develop broking options for clients with complex needs | Unit of competency |
| State Code | National Code | Title | Type |
|---|---|---|---|
| D716 | FNS50311 | Diploma of Finance and Mortgage Broking Management | Qualification |